ESPN Streaming Service an Upsell for Existing Pay TV Customers

Posted - February 09 201803:45

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ESPN Streaming Service an Upsell for Existing Pay TV Customers

With Fox under Disney's belt, coupled with a new streaming service poised to kickstart by next year, the "content king" has paved "a clear runway to gain market and mind share from the likes of Netflix". After adjusting for the one-time windfall and other effects, the company reported adjusted earnings of $1.89 a share, up from $1.55 past year, on revenue of $15.35 billion, up from $14.8 billion. Through Monday, Disney shares had fallen 2.6 per cent this year, compared with 1.5 per cent for the Dow Jones Industrial Average. Beyond existing IP, Disney announced on Tuesday that Game of Thrones creators David Benioff and D.B. Weiss will write and produce a new series of Star Wars films. In December, Disney announced a $52.4 billion deal to buy film, television and global assets from Twenty-First Century Fox, a move that will allow it to offer more programming to online viewers. Excluding those games, ESPN ad revenue was still down 7%.

"If anything points to what the future of what ESPN looks like, it will be this", Iger says during the investor's earnings call while referring to ESPN Plus. The revenue paid by distributors to carry ESPN rose.

Disney also announced that its new ESPN Plus streaming service that's set to launch in the next few months will cost $4.99 a month and will be integrated into completely overhauled ESPN app that Disney plans to launch across the major mobile and TV platforms. The House of Mouse, however, missed Wall Street estimates with a revenue increase of 4% to US$15.4 billion. The analyst believes it was "somewhat expected", so he remains unfazed that Studio revenue of $2.50 billion and Consumer/Interactive of $1.45 billion came up a bit short of consensus expectations. The media conglomerate recorded a $1.6 billion gain due to recent changes to the U.S. tax law.

Kirk Cousins: May receive franchise tag againCousins could also delay signing the tag for months, meaning the quarterback could tie up the Redskins' cap space in free agency. Now, the Redskins may place the franchise tag on Cousins in order to send him elsewhere, according to Adam Schefter of ESPN .

Net income soared 78% to $4.4 billion - largely as a result of the one-time benefit from the new federal tax laws. Overall, attendance was up by six percent at Disney parks due to Pandora - The World of Avatar and Guardians of the Galaxy: Mission Breakout!

Disney's movie studio turned out three blockbusters in the quarter. New Star Wars, Marvel, Pixar, and Disney movie releases will be streamed when they're available for home entertainment.

Disney's Theme Parks revenue grew 13% y-o-y and operating income increased 21% y-o-y, driven by growth in both its domestic and worldwide businesses.

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